Unprecedented onion exports fetched $210 million during July-April FY24 at the cost of inflation-hit consumers who paid record prices for the vegetable. “Onion exports may soar to $250m by the end of the current fiscal year,” claimed All Pakistan Fruit and Vegetable Exporters Association Patron-in-Chief Waheed Ahmed, dispelling market impression that higher exports have caused a price flare-up
The Federal Board of Revenue (FBR) has so far blocked over 11,000 mobile phone SIMs of non-tax filers, according to an official. FBR spokesperson Bakhtiar Mohammad told Dawn.com that “11,252 SIMs had been blocked till May 22 (yesterday) under Income Tax General Order. He added that the tax-collecting body was “committed to promoting tax compliance and tax culture”. Earlier, it was reporte
United Arab Emirates President Sheikh Mohamed Bin Zayed Al-Nahyan on Thursday committed to investing $10 billion in multiple sectors of the Pakistani economy. A statement released by state-run Pakistan Television on social media platform X said the development came in an Abu Dhabi meeting of the UAE president with Prime Minister Shehbaz Sharif who is on a day-long visit to the Mideast nation.
Without any foreign inflow, the State Bank of Pakistan’s (SBP) foreign exchange reserves showed a meagre increase, while commercial banks recorded a significant drop during the week ending May 17. On Thursday, the central bank reported a $22 million increase in its reserves to $9.157 billion during the week. This upward trend in reserves reflects the SBP’s strategic dollar purchases from the in
Local automakers are struggling to attract buyers with price cuts, registration discounts and auto financing, while the imported used car market has shown strong performance. All Pakistan Motor Dealers Association (APMDA) Chairman H.M. Shahzad claimed that 28,000 used cars were imported during the July-May period of FY24, compared to 14,000-15,000 units in the entire FY23. “Total imports wil